Reasons to Choose Las Vegas
The Las Vegas area is home to a host of successful businesses, from “mom-and-pop” stores to manufacturing facilities employing hundreds. While resort/tourism and gaming industries have a strong market presence and provide tens of thousands of jobs, a diversifying economy is providing many new career possibilities as well. According to Recruiting Nevada, over 167,000 jobs will be created in the Las Vegas area over the next 5 years.
Substantial job growth and a friendly-business climate have earned Las Vegas accolades across the nation. In February 2007, Inc. named Las Vegas “Hottest City in America,” among large cities, and in 2006 Forbes magazine named Las Vegas as one of the top three best cities to find a job.
For more than a decade, some 50,000 people have opted to move to the greater Las Vegas area each year. The area’s employment growth remains unparalleled and continues to draw residents from across the country. According to the Nevada Department of Employment, Training and Rehabilitation (NVDETR), the Las Vegas metropolitan is growing at a rate of about 1.5 percent each year.
“In home building, college graduates are in high demand at the management level,” said Gary Mayo, group president of Toll Brothers Nevada division. “There’s a lot of buzz about the lack of qualified labor in construction, so we’re hungry for top performing, business-savvy college graduates.”
Las Vegas' slate of gaming and non-gaming attractions continues to grow. In 2008, visitors will see and experience more in Las Vegas than ever before. Here are some highlights of new resorts and casinos opening soon:
The grand opening celebration of The Palazzo was in January, a $1.8 billion resort featuring more than 3,000 all-suite rooms as well as luxurious shopping, dining and entertainment
Palms Place, the 50-story Condominium Hotel and Spa Tower at the Palms Casino Resort, will open with 599 rooms and the SkyTube, a moving walkway that will join the residences with the resort's casino, restaurants and nightlife.
Trump International Hotel & Towers will make its debut on the Las Vegas Strip in the spring. At $500 million and 1,282 rooms, it will be one of the few Strip properties without a casino. Instead, the property will house luxurious resort amenities including a private spa, fitness center and a world-class gourmet restaurant.
Employment in Las Vegas
Las Vegas has consistently maintained the highest new job growth in the United States.
Since 1990, Las Vegas has also ranked number one in high-tech job growth (primarily high-tech services). Consequently, the Nevada labor force has increased by nearly 350,000 people in the last decade.
The 2007 Boyd Corporate Site Selection Leading Indicator Poll reports that Las Vegas has the most favorable business climate for new corporate investments in the West, beating cities such as San Francisco, Phoenix, and Los Angles.
Construction
The construction industry remains one of the strongest and fastest-growing components of the Las Vegas economy, accounting for more than 110,000 jobs, according to Recruiting Nevada. According to the Nevada Department of Employment, Training and Rehabilitation (NVDETR), construction related jobs make up 11 percent of the economy.
The Vegas Strip is leading the charge with $35 billion worth of projects planned through 2010, reports the Las Vegas Convention & Visitors Authority. Construction plans will add 42,092 more hotel rooms, 2,562 timeshare units and 3.49 million square feet of convention space. Another $13 billion in tentative projects could also build 36,703 hotel rooms and 7,088 timeshare units.
Las Vegas’ health care has entered a new era with the recent addition of several high-tech medical facilities and expanded health care offerings. Today over 30 hospitals and medical centers offer quality care from some of the finest physicians and medical personnel in the nation.
"The Las Vegas medical community has grown up and matured in recent years and is regarded as a vital resource for the entire southwestern United States," notes Dr. Flip Homansky, Medical Director for Valley, Desert Springs, Summerlin and Spring Valley hospitals. “People from around the region rely on the medical expertise available in Las Vegas, and we're building a reputation for quality medicine that we can be proud of."
Southern Nevada’s fast-paced growth has spurred the construction of several new hospitals in quick succession in recent years. According to Recruiting Nevada, 11 new health care facilities are planned by 2009 and major renovations are planned or are underway on many of the existing facilities. The new construction has afforded health care centers the opportunity to incorporate the latest technology into their facilities.
An innovative medical initiative being heavily promoted is the development of a multi-million dollar Academic Medical Center near the “South Strip” at the confluence of U.S. 95 and I-215. Such a facility would be used for clinical and laboratory research as well as patient care and would serve as a teaching environment for medical specialties and research.
Specialty Retail
In typical Vegas grand fashion, the new World Market Center Complex encompasses more than 12 million square feet of design, production and exhibit space devoted to the home furnishings industry. The main building opened in mid-2005, the second tower in early 2007, and the third is planned for mid-2008, with all eight towers to be completed by 2012. Developers predict this complex will become an anchor to downtown revitalization.
Downtown is also turning into a hotbed of development. The Lou Ruvo Brain Institute has broken ground and the Smith Center for the Performing Arts is scheduled to break ground in 2008. The World Jewelry Center with 1 million square feet of retail.
A study of the local market, commissioned by the Southern Nevada Homebuilders Association and done by Applied Analysis, forecasts the following: The largest wave of strip area projects in the regions history is set to begin later this year. It is estimated that this and other contributing factors will stimulate demand for 177,400 housing units between 2008 and 2012, a 13.3% increase over the demand reported during the preceding five-year period (ie., 2003 through 2007)." This 75 page study predicts that housing supply will peak late 2007/early 2008. They estimate that cutbacks in permitting activity combined with this increased demand could possibly create a housing shortage by late 2009.
On the Drawing Board
One of the largest mixed-use facilities in development is the Great Mall of Las Vegas, a complex slated to open as early as this year. Situated on nearly 50 acres at the northeast corner of Grand Montecito Parkway and Deer Springs Way, current plans call for a three-level enclosed mall with 250 stores and shops, 100,000 square feet of office space and 40 restaurants.
Summerlin Centre is being developed as a “new and unique blend of the urban and suburban, the traditional and contemporary, the quaint and the cosmopolitan.” When complete, the project will include a mix of residential and retail, offices and parks, recreation and schools.
Located in the master planned community of Summerlin, the development encompasses land bounded by Sahara Avenue, Charleston Boulevard, Cottonwood Canyon and Hualapai Way. Portions of the project are already complete. Future development calls for creation of The Central Park, which will feature community and cultural events and entertainment and The Shops at Summerlin Centre, a retail project. Plans also include development of resort and office districts.
Schools
As of the 2006-2007 school year, the district operates 326 schools, which include:
- 199 elementary schools (85 year-round, 114 nine-month)
- 55 middle schools
- 41 high schools (includes virtual HS)
- 31 alternative schools/special schools
The CCSD is organized into five geographic regions: Northwest, Northeast, East, Southeast and Southwest. Under the leadership of a region superintendent, each region is responsible for developing programs and services tailored to the needs of its community.
Operating one of the nation’s largest school construction and modernization programs, approximately $4.7 billion will be spent through 2008 to build new schools and improve existing schools. The district opened 10 new schools in the fall of 2006 (six elementary schools, two middle schools and two high schools).
Charter Schools
In 1997, the state legislature passed laws allowing for the formation of charter schools in the state of Nevada. Although sponsored by the local school district, charter schools maintain their own board of directors and operate independently of the district’s policies and regulations.
Charter schools are required to abide by state and county laws but are given a great deal of latitude in the day-to-day operation of facilities. The purpose of such alternative education is to improve education in a setting where innovation, experimentation and research are used to identify effective methods of instruction. These findings are then incorporated into traditional classroom programs. For information about charter schools in the Las Vegas metro area, contact the Clark County School District at (702) 799-5011.
With a warm, sunny climate, a vast array of recreational opportunities and numerous housing options, Southern Nevada is becoming an increasingly popular retirement destination.
More than 267,000 retirees currently make their home in Las Vegas. Studies show that today’s retirees are healthy, active individuals who are looking for exciting, fun-filled golden years. What better place to make that happen than right here in Las Vegas?
While the majority of Las Vegas’ recreational amenities can be enjoyed by adults of all ages, there are a vast number of activities, events, services and residential amenities that are specifically tailored to meet the needs of seniors and retirees.
Advantages For Relocating
Companies and individuals alike appreciate Southern Nevada’s low tax and pro-business operating environment.
Below are the top 16 reasons to consider a move or relocation to Southern Nevada.
- Business-friendly state and local government
- No state corporate income tax
- No personal income tax
- Excellent state incentives
- Educated, expanding and cost-effective workforce
- Best economic growth in the United States
- America’s finest telecommunications and technology infrastructure
- UNLV Harry Reid Research & Technology Park
- UNLV Science and Engineering Building
- UNLV Supercomputing Facility
- Nevada Cancer Institute
- Lou Ruvo Brain Institute
- The Nevada Neurosciences Institute
- Very dependable, expanding energy base
- McCarran International Airport – America’s 6th largest
Information provided by the Las Vegas Chamber of Commerce 2008
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The data related to Real Estate for sale on this website comes in part from the INTERNET DATA EXCHANGE (IDX) program of the Greater Las Vegas Association or REALTORS® MLS. Real Estate listings held by Brokerage firms other than this site owner are marked with the IDX logo. |
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GLVAR deems information reliable but not guaranteed.
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Las Vegas NV 89146
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